Solar Financing
We Are Here to Give You the Power
Worried about the upfront costs of renewable energy? The team at O3 Energy® has expertise in multiple types of financing and ways to reduce your initial costs.
Commercial Solar Financing
Since 2011, we’ve made it our mission to create energy generation sites from sustainable, renewable sources of power like solar. We understand you want to take advantage of solar energy for your business or organization but might feel intimidated by the possible costs. The reason we put so much time into making solar financing straightforward for clients is that because we want solar power to be accessible to everyone.
Solar energy has never been more affordable than it is today. Whether you want to own your system or not, it is a reliable investment for reducing your electric bills and generating a dependable return on your investment. We offer financing plans for qualified solar projects all across the United States. Several options are available depending on the total project cost, location of the site, and the credit of the off-taker.
Don’t Forget About Solar Rebates and Energy Grants
Financing is not the only way to make your solar project more affordable. Depending on your location and situation, you might qualify for multiple rebate programs or solar incentives like federal energy grants designed to help pay for solar systems. To find out if your business or organization qualifies, you can reach out to O3 Energy today. Our team is happy to help you find all the appropriate rebates and incentives that apply to your project.
The Time for Solar Tax Credits Is Running Out
The federal government put a solar investment tax credit in place for commercial and utility investors several years ago. The solar ITC was set to expire in 2007, but they chose to extend the tax benefits. Now, the clock is ticking again. As of 2019, the tax credit remained at 30% and is set to fall to 26% in 2020. In 2021, it will fall further to 22% and continue to drop. Without an extension, these sinking numbers mean now is the best time to invest in solar energy.
Don’t Worry About the Performance of Your Solar System.
O3 Energy is here to offer operations management and maintenance throughout the life of your system.
Looking for a Solar Power Purchase Agreement?
A Solar Power Purchase Agreement, or PPA, has quickly become one of the most popular methods for businesses to capitalize on the benefits of solar power for no money down. A solar PPA from O3 Energy allows consumers to avoid all of the expensive upfront costs like solar panels, inverters, solar permits, and solar installer construction. Under the terms of a PPA, you would pay for the electricity generated by the solar array. With a service agreement in place, you would know your rate and the fixed period of time the PPA would last.
These are not financing options like traditional solar loans or leases. After the initial term of the PPA has expired, you would be able to purchase the system with a buy-back option or enter into a new PPA. Power Purchase Agreements offer advantages like:
- Monthly payments per units of electricity delivered
- Reducing your electricity purchases from the grid
- Flexible lease terms between 10 and 20 years with options for extensions or early buyout
- The system is maintained and monitored by O3 Energy throughout the terms of the PPA
Want to Know More About Operating Leases?
The most significant advantage of the Operating Lease is there are little to no upfront costs for the client. The tax benefits of the Operating are used by the lessor, and the value is transferred onto the lessee through lower lease payments. Capital Leases come with a fixed purchase price at the end of the lease term.
The Operating Lease requires a residual balance of “fair market value” at the end of the lease term, and this balance typically ranges from 15%-30% of the total project cost. A solar lease like this is an excellent deal if your business wants to save working capital or doesn’t have the necessary tax appetite to take advantage of ITC and depreciation.
- Only for-profit companies qualify for this option
- Typically offers a 7-year term
- You get fixed payments for the entire term
- Off-balance sheet accounting treatment and you can deduct lease payments as an operating expense for your organization
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Have You Looked at PACE Financing?
Property Assessed Clean Energy, or PACE, financing is becoming an increasingly popular option for residential solar improvements. PACE is an advantage for business owners looking to increase the energy efficiency of their property with renewable energy projects.
The PACE financing option is bundled under a property’s assessment and paid on the property’s tax bill. It pays for 100% of a project’s cost and is repaid over up to 20 years with an assessment added to the property’s tax bill. An authorized PACE lender provides the funds to the property owners who want to make clean energy improvements like solar panels or other energy-efficiency upgrades.
- An attractive option for businesses with less than perfect credit
- Your building or facility must be within the PACE available areas
- Property owners repay the costs through an assessment attached to their annual property tax bill
To learn more about our solar financing options and ways to reduce the cost of your solar energy system, reach out to O3 Energy today.